Sunday, June 04, 2006

Via The New York Post
After years of trading in near lock-step, the country's two giant satellite radio companies appear ready to put some space between them.

Sirius Satellite Radio, lifted in large part by Howard Stern joining its ranks, has been hitting its subscriber-growth targets and doing everything right in the corner office, while rival XM Satellite Radio has been hit with a litany of negative issues.

At the same time, Sirius has been none to shy in pointing out to investors that those issues aren't affecting them.

"Recently, there's been some noise in the market about softness in retail," said Sirius CFO David Frear. "We don't really see softness for us in retail. We see our market share up substantially."

Last week Karmazin spent $4.5 million of his own money to acquire 1 million Sirius shares on the open market - the second time he's done that this year.

By contrast, Panero has not bought any XM shares in the last 12 months. Indeed, in December, Panero sold 413,334 XM shares, or about 17 percent of his entire stake in the company.

The 6.5 million Sirius shares owned by Karmazin triple the amount Panero holds in XM. That prompted Bear Stearns analyst Robert Peck to say in a recent report that [XM's] management credibility has been severely tarnished over the last six to nine months.

get Full Story via New York Post by Peter Lauria


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